Iowa Officials May Be Trying to Get Out of Bad Film Tax Credit Deals

Joe Kristan at Tax Update blog reports that the Iowa Department of Economic Development may be backpedaling in an effort to get out of providing tax credits to over one hundred film projects that have received initial approval. He had this historical insight:

This is starting to remind me of the TouchPlay disaster, where the state quietly paid millions to reimburse slot machine video lottery terminal owners after the state had let them sneak their machines into convenience stores, bars and grocery stores across the state, only to pull them in response to public outrage. The lawsuits will start any time now, and then there will be some big ugly settlement down the road.

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